Touchstone Arbitrage Fund Sub-Advised by: Longfellow Investment Management Co.

Portfolio Characteristics as of 12/31/2017
Median Market Capitalization$0.8 Billion
New Deals for the Quarter14
Closed Deals for the Quarter13
Number of Holdings (Short)18
Number of Holdings (Long)103
Show: Full Holdings (Long| Short) |  Top Holdings
Full Holdings as of 12/31/2017
Long Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AKORN INCUS230,29532.237,422,4083.83
ALLSTATE CORP 3.35% 05/15/2037US1,000,00098.75987,5000.51
ALPHABET INC-CL AUS6051053.40637,3070.33
ALTA MESA HLDGS 7.88% 12/15/2024US1,050,000109.631,151,0630.59
AMPLIFY SNACK BRANDS INCUS592,40012.017,114,7243.67
AVISTA HEALTHCARUS54010.305,5620.00
AVISTA HEALTHCARE PUBLIC-AUS157,7459.921,564,8300.81
AVISTA HEALTHCARE WTSUS344,500.2896,4940.05
BANCO BILBAO VIZ 9.00% 05/09/2049ES800,000102.25818,0000.42
BARCLAYS PLC 8.25% 06/20/2064GB1,000,000104.831,048,2500.54
BAZAARVOICE INCUS652,4005.453,555,5801.83
BECTON DICKINSON AND COUS11,763214.062,518,0761.30
BLACK RIDGE ACQU CORP-RTSUS235,000.2865,8000.03
BLACK RIDGE ACQUISITION CORPUS235,0009.662,270,1001.17
BLACK RIDGE-CWUS235,000.3377,5500.04
CALATLANTIC GROUP INCUS74,20056.394,184,1382.16
CALPINE CORPUS232,00015.133,510,1601.81
CAPITOL INVESTMENT CORP IVUS289,21910.002,892,1901.49
CAPITOL INVESTMENT CORP IV-AUS263,2849.692,551,2221.32
CM SEVEN STAR ACQUISITION COHK212,6259.962,117,7451.09
CONSTEL ALP-CW22US473,050.24113,5320.06
CONSUMER DISCRETIONARY SELTUS1,25798.69124,0530.06
CONSUMER STAPLES SPDRUS14656.898,3060.00
CORESTATES CAPTL 1.99% 02/15/2027US500,00093.50467,5000.24
DELL TECHNOLOGIES INC-CL VUS52,27081.284,248,5062.19
DOUBLE EAGLE-CWUS61,0281.4487,8800.05
DOWNSTREAM DEVEL 10.50% 07/01/2019US760,00098.00744,8000.38
DYNEGY INCUS449,92111.855,331,5642.75
FEDERAL ACQ-CW22US260,7791.05273,8180.14
FEDERAL STREET ACQUISIT-CL AUS616,9049.715,990,1383.09
FINANCIAL SELECT SECTOR SPDRUS3,81327.91106,4210.05
GIGCAPITAL INC-UNITUS372,50010.003,725,0001.92
GORES HOLDINGS II INC - AUS436,4519.944,338,3232.24
GORES HOLDINGS WTS EXP 3/6US48,1252.0196,7310.05
GTY TECHNOUS55,4881.2569,3600.04
GTY TECHNOLOGY HOLDINGS IN-AUS394,6469.933,918,8352.02
GTY TECHNOLOGY HOLDINGS INCUS11,28610.30116,2460.06
HAYMAKER ACQUISITION CORPUS650,0009.906,435,0003.32
HENNESSY CAPITAL ACQUISITIONUS129,0329.801,264,5140.65
HENNESSY CAPITAL ACQUISITIONUS7,07110.3573,1850.04
IGNYTA INCUS173,74826.704,639,0722.39
INDUSTREA ACQUISITION CORPUS50,00010.06503,0000.26
INDUSTREA ACQUISITION CORP-AUS142,3609.721,383,7390.71
INDUSTRIAL SELECT SECT SPDRUS12175.679,1560.00
JPMORGAN CHASE 2.28% 09/30/2034US500,00092.50462,5000.24
JPMORGAN CHASE 2.42% 05/15/2047US500,00089.25446,2500.23
KAYNE ANDER-CW22US188,433.83156,3990.08
KAYNE ANDERSON ACQUISITION CUS14,6359.96145,7650.08
KAYNE ANDERSON ACQUISITION-AUS684,9289.716,650,6513.43
LANDCADIA -CW23US74,200.7051,9400.03
LANDCADIA HOLDINGS INCUS441,1029.944,384,5542.26
LEGACY ACQUISITION CORPUS510,0009.945,069,4002.61
LEISURE ACQUISITION CORPUS303,0009.902,999,7001.55
LENNAR CORP - B SHSUS33,15751.681,713,5540.88
LENNAR CORP-AUS17,20063.241,087,7280.56
LIN TELEVISION 5.88% 11/15/2022US1,000,000104.001,040,0000.54
MATLIN AND -CW21US349,105.42146,6240.08
MATLIN AND PARTNERS ACQUIS-AUS497,0039.764,850,7492.50
MATLIN AND PARTNERS ACQUISITUS1,10010.0511,0550.01
MEDIA GENERAL INC CVR VUS180,000.1018,0000.01
MOSAIC ACQUISITION CORPUS617,26310.106,234,3563.22
NB-GLOBAL 1.91% 01/15/2027US375,00094.00352,5000.18
NETS A/SDK141,50026.303,721,8241.92
NEXSTAR BROADC 6.13% 02/15/2022US250,000103.50258,7500.13
NXP SEMICONDUCTORS NVNL62,770117.097,349,7393.79
ORBITAL ATK INCUS40,510131.505,327,0652.75
PENSARE ACQUI-CWUS149,180.5582,0490.04
PENSARE ACQUISITION CORPUS310.32310.00
PENSARE ACQUISITION CORPUS423,3609.664,089,6582.11
PENSARE ACQUISITION CORP-RTSUS298,360.44131,2780.07
PUBLIC STORAGEUS19,53125.14491,0090.25
RABOBANK 11.00% 12/29/2049NL1,000,000111.751,117,5000.58
REGAL ENTERTAINMENT GROUP-AUS240,00023.015,522,4002.85
REGALWOOD GLOBAL ENERGY LTDUS299,9309.952,984,3041.54
RITE AID CORPUS697,9421.971,374,9460.71
SABAN CAPITAL ACQUISITION COUS178,14010.521,874,0330.97
SABAN CAPITAL ACQUISITION-AUS403,7319.934,009,0492.07
SCRIPPS NETWORKS INTER-CL AUS40,60085.383,466,4281.79
SENTINEL ENERGY SERVICES INCUS253,5009.972,527,3951.30
SILGAN HOLDINGS 5.50% 02/01/2022US1,000,000102.501,025,0000.53
SILVER RUN ACQUISITION COR-AUS434,4869.914,305,7562.22
SILVER RUN-CW22US234,5221.48347,0930.18
SOCIETE GENERALE 8.25% 05/29/2023FR1,000,000104.631,046,2500.54
SPY12/29C2650US 01/04/2018US3151.3040,9500.02
STRAIGHT PATH COMM- BUS25,291181.794,597,6512.37
SUCAMPO PHARMACEUTICALS-CL AUS117,80017.952,114,5101.09
SUN-CALL01/18 6.25% 04/15/2021US1,350,000103.951,403,3250.72
TECHNOLOGY SELECT SECT SPDRUS1,85663.95118,6910.06
TIME INCUS415,13018.457,659,1493.95
TIME WARNER INCUS70,00091.476,402,9003.30
TMUS-CALL01/18 6.13% 01/15/2022US1,250,000103.151,289,3750.67
TPG PACE ENERGYUS208,9371.30271,6180.14
TPG PACE ENERGY HOLDINGS - AUS626,8119.746,105,1393.15
TPG PACE ENERGY HOLDINGS CORUS10,00010.15101,5000.05
TPG PACE HOLD-CWUS184,3281.55285,7080.15
TPG PACE HOLDINGS CORP-CL AUS651,5099.756,352,2133.28
TRIBUNE MEDIA CO - AUS183,46042.477,791,5464.02
VANTAGE ENE-CW24US117,0581.10128,7640.07
VANTAGE ENERGY ACQUISITION-AUS573,3519.725,572,9722.87
VMW1/19C1250US 01/19/2018US1223.2039,0400.02
VMWARE INC-CLASS AUS4,600125.32576,4720.30
WILLIAMS SCOTSMA 7.88% 12/15/2022US1,100,000103.001,133,0000.58
ZURNVX-CALL01/18 8.25% 01/18/2022IE2,000,000100.232,004,6001.03
Full Holdings as of 12/31/2017
Short Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
ALPHABET INC-CL CUS-6051046.40-633,072-0.33
AT&T INCUS-56,00038.88-2,177,280-1.12
BECTON DICKINSON AND COUS-11,763214.06-2,517,988-1.30
ENERGY SELECT SECTOR SPDRUS-3,73672.26-269,963-0.14
HEALTH CARE SELECT SECTORUS-1,09582.68-90,535-0.05
ISHARES US TELECOMMUNICATIONUS-1,08729.41-31,969-0.02
LEN1/19P575US 01/19/2018US-75.24-1,8000.00
LEN1/19P600US 01/19/2018US-75.52-3,9000.00
LENNAR CORP - B SHSUS-77151.68-39,845-0.02
LENNAR CORP-AUS-115,25363.24-7,288,600-3.76
MATERIALS SELECT SECTOR SPDRUS-29560.53-17,856-0.01
REAL ESTATE SELECT SECT SPDRUS-1,92432.94-63,377-0.03
SINCLAIR BROADCAST GROUP -AUS-42,19537.85-1,597,081-0.82
SPDR S&P 500 ETF TRUSTUS-31,500266.86-8,406,090-4.34
UTILITIES SELECT SECTOR SPDRUS-7952.68-4,1620.00
VISTRA ENERGY CORPUS-293,34818.32-5,374,135-2.77
VMW12/29P1270US 01/04/2018US-1051.37-14,385-0.01
VMWARE INC-CLASS AUS-56,870125.32-7,126,948-3.68
Top 5 Holdings as of 12/31/2017
Long Position
% of
Portfolio
Short Position
% of
Portfolio
1. TRIBUNE MEDIA CO - A3.7
1. SPDR S&P 500
-4.0
2. TIME INC3.7
2. LENNAR CORP-A
-3.5
3. AKORN INC3.5
3. VMWARE INC-CLASS A
-3.4
4. NXP SEMICONDUCTORS NV3.5
4. VISTRA ENERGY CORP
-2.6
5. AMPLIFY SNACK BRANDS INC3.4
5. BECTON DICKINSON AND CO
-1.2

Data may not total due to rounding.

There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change.

The data illustrated for Touchstone Domestic Equity Funds – Morningstar is the source. For Russell index information – the Frank Russell Company is the source and owner. For MSCI index information- the MSCI is the source and owner. The data illustrated for Touchstone Fixed Income Funds, Diversified Income Funds, Alternative Investment Funds, International Equity Funds, Asset Allocation Funds and Money Market Funds – the fund’s sub-advisor is the source. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.